A significant number of Peeriosity member companies utilize Blackline Systems’ Account Reconciliation software product to replace spreadsheets and improve the transparency, accuracy, and efficiency of the reconciliation process. While Peeriosity does not allow vendors to market their products, we do provide members with the opportunity to share their experiences regarding specific vendors, products, and services. A recent Peercast featured a panel of companies that implemented Blackline’s Account Reconciliation software, to allow members to learn from their experiences, both positive and negative.  During the Peercast, with over 80 members, representing 46 companies, we were able to ask questions to the panel and also share their experiences in this area.

Of course, not everyone uses Blackline Systems, with members mentioning experiences with other vendors, including Trintech’s AssureNET product, or using internally developed solutions.   A full 30% of companies aren’t yet using any type of automated solution, relying instead on traditional methods, including spreadsheets, to complete account reconciliations.

Based on the supporting iPoll, 65% of the companies have implemented a solution, and an additional 5% have approved doing so.  Only 14% have either not yet evaluated the opportunity, or have decided not to pursue it at this time.

When asked, “If you use an automated account reconciliation software, how satisfied are you?”, 68% of companies report that they are either satisfied or very satisfied.  While positive for those companies, it looks like there are lessons to be learned in how to implement successfully, as another 27% of the companies report being either neutral or dissatisfied.

When you are evaluating technology solutions, or you want to make sure your implementation is as successful as possible, there is nothing better than an honest and candid discussion between peers with direct experience.   Peeriosity members who attended the Peercast learned this lesson first hand, and because Peercasts are documented, the same discussion is available at any time for new members.

Has your company implemented an automated account reconciliation solution, and how happy are you with the results?

Who are your peers and how are you collaborating with them?

“Peercasts^TM” are private, professionally facilitated webcasts that feature leading member company experiences on specific topics as a catalyst for broader discussion.  Access is available exclusively to Peeriosity member company employees, with consultants or vendors prohibited from attending or accessing discussion content.  Members can see who is registered to attend in advance, with discussion recordings, supporting polls, and presentation materials online and available whenever convenient for the member.  Using Peeriosity’s integrated email system, Peer Mail^TM, attendees can easily communicate at any time with other attending peers by selecting them from the list of registered attendees.